Hikal Ltd’s pharmaceutical facility located at Panoli, Gujarat was recently inspected by the U.S. Food and Drug Administration (US FDA) in compliance with their requirements.
The five-day detailed inspection was carried out during the period September 9 – 13, 2019. The inspection confirmed the site to be compliant with the principles and guidelines of Current Good Manufacturing Practices (CGMP).
The inspection concluded with ‘Zero’ 483 observations from the auditors. The Establishment Inspection Report (EIR) received on December 12, 2019 has classified the facility under NAI (No Action Indicated) for CGMP compliance.
The shares of the company surged to Rs. 117, up by Rs. 15.35 or 15.10%. The stock hit an intraday low of Rs. 101.35 and high of Rs. 119.80.-Equity Bulls